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COMBINED BALANCE SHEETS
<br />JUNE 2007
<br />ASSETS ELECTRIC WATER
<br />CURRENT ASSETS
<br />CASH & TEMPORARY INVESTMENTS 1,480,284.71 565,139.60
<br />ACCOUNTS RECEIVABLE 2,250,235.62 414,730.66
<br />INVENTORIES 2,272,743.70 30,924.06
<br />PREPAID ITEMS 61,488.34 -
<br />CONSTRUCTION IN PROGRESS 1,309,176.82 187,209.36
<br />TOTAL CURRENT ASSETS 7,373,929.19 1,198,003.68
<br />RESTRICTED ASSETS
<br />BOND RESERVE FUND 445,900.00
<br />EMERGENCY RESERVE FUND 1,210,021.94 1,006,673.98
<br />UNRESTRICTED RESERVE FUND 389,844.47 135,493.00
<br />TOTAL RESTRICTED ASSETS 2,045,766.41 1,142,166.98
<br />FIXED ASSETS
<br />PRODUCTION 2,342,563.74 9,473,540.84
<br />LFG PROJECT 3,692,338.97
<br />TRANSMISSION 453,005.00
<br />DISTRIBUTION 27,577,895.55 19,347,966.06
<br />GENERAL 9,882,769.42 790,119.70
<br />FIXED ASSETS (COST) 43,948,572.68 29,611,626.60
<br />LESS ACCUMULATED DEPRECIATION (16,704,488.47) (6,540,829.80)
<br />TOTAL FIXED ASSETS, NET 27,244,084.21 23,070,796.80
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<br />OTHER ASSETS 100,556.19 83,404.35
<br />TOTAL ASSETS 36,764,336.00 25,494,371.81
<br />LIABILITIES AND FUND EQUITY
<br />CURRENT LIABILITIES
<br />ACCOUNTS PAYABLE 1,050,096.53 129,461.37
<br />SALARIES AND BENEFITS PAYABLE 233,996.67 71,443.29
<br />DUE TO CITY 59,437.28 6,310.00
<br />DUE TO OTHER FUNDS 216,850.49
<br />BONDS PAYABLE-CURRENT PORTION 266,932.50
<br />TOTAL CURRENT LIABILITIES 1,827,313.47 207,214.66
<br />LONG TERM LIABILITIES
<br />LFG PROJECT 2,892,952.00
<br />DUE TO COUNTY 20,551.08
<br />BONDS PAYABLE, LESS CURRENT PORTION 8,127,099.35 5,311,250.00
<br />TOTAL LONG TERM LIABILITIES 11,040,602.43 5,311,250.00
<br />TOTAL LIABILITIES 12,867,915.90 5,518,464.66
<br />FUND EQUITY
<br />CAPITAL ACCOUNT CONST COST 445,900.00
<br />CONTRIBUTED CAPITAL
<br />RETAINED EARNINGS 23,450,520.10 19,975,907.15
<br />TOTAL FUND EQUITY 23,896,420.10 19,975,907.15
<br />TOTAL LIABILITIES & FUND EQUITY 36,764,336.00 25,494,371.81
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